Ivanhoe did not pay for Finance Minister's trip to New York, MPs rule

Fri, 2010-12-10 06:20

The Ethics Committee of Parliament discussed on Tuesday in camera a private citizen’s complaint against Minister of Finance S.Bayartsogt and found him not guilty of any wrongdoing. The charge was that Ivanhoe Mines Mongolia had paid for Mr. Bayartsogt’s trip to New York to attend a ceremony related to Ivanhoe at the Stock Exchange there. The committee found that the Minister had paid for the visit with his private funds.

The Finance Minister had been asked to ring the bell in the New York Stock Exchange in a traditional ceremony to mark the fifth anniversary of trading in Ivanhoe Mines shares there. Apart from exonerating the Minister, the committee found, according to its Chief, Mr. G.Bayarsaikhan, that the honor accorded to him helped bring Mongolia into international spotlight. As such, he was on official business, even though he paid for his travel himself.

Source: Undesnii Shuudan

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